Are you nervous about returning to school due to the poor economic conditions that seem to saturate the worlds news. If so, you should rethink your plans. This is actually an ideal time to finish your degree, or even begin to pursue your dream of a college education--especially if you are a single mother. Why? Because there is more federal financial aid for single moms than ever before. Women all over the United States are applying for federal grants and tax credit programs to help them get further education.
Federal Tax Credit
While the Earned Income Credit has benefited many single moms as head of the household, there are many other tax credit programs that will help directly with education. One such tax credit is the American Opportunity Tax Credit program. This federal program is intended to cover the first $4,000 of a citizens higher education, and is calculated on previous years income instead of current or future.
In addition, look for check tax credits for education at the state level. Some state tax credits are even specially geared toward working women. For example, there is a program in Indiana that helps day care workers get an education.
Government Grants
The Pell Grant program is perhaps the most well-known federal grant. The Obama administration has increased them for low income students, and will expand the maximum allowable grant to $5,100, up from $4,050. Soon the president hopes to increase it to $5,400, which will be a boon to single mothers.
I Must Go to School Online - Is There Assistance Available for Me?
If you have to work and take care of your family, you probably don't have time for traditional classes. Do not despair--the Federal Pell Grant is for online degrees as well as campus-based course work! Many of the other programs are also designed to include online courses, which is an ideal program for single mothers.
Obviously, there are a lot of financial aid programs out there so this means a lot of money available for you. But it can be a time consuming task to find them--so you may want to consider using a scholarship and grant matching program. Many of them are free or very low cost, and they can help you find money you would never have thought possible or found on your own.
Federal Tax Credit
While the Earned Income Credit has benefited many single moms as head of the household, there are many other tax credit programs that will help directly with education. One such tax credit is the American Opportunity Tax Credit program. This federal program is intended to cover the first $4,000 of a citizens higher education, and is calculated on previous years income instead of current or future.
In addition, look for check tax credits for education at the state level. Some state tax credits are even specially geared toward working women. For example, there is a program in Indiana that helps day care workers get an education.
Government Grants
The Pell Grant program is perhaps the most well-known federal grant. The Obama administration has increased them for low income students, and will expand the maximum allowable grant to $5,100, up from $4,050. Soon the president hopes to increase it to $5,400, which will be a boon to single mothers.
I Must Go to School Online - Is There Assistance Available for Me?
If you have to work and take care of your family, you probably don't have time for traditional classes. Do not despair--the Federal Pell Grant is for online degrees as well as campus-based course work! Many of the other programs are also designed to include online courses, which is an ideal program for single mothers.
Obviously, there are a lot of financial aid programs out there so this means a lot of money available for you. But it can be a time consuming task to find them--so you may want to consider using a scholarship and grant matching program. Many of them are free or very low cost, and they can help you find money you would never have thought possible or found on your own.
About the Author:
Carrie Sommer is a frequent contributor to Online Degree News and Views, where you will locate more data about federal grants for single mothers, online degree programs, career resources and more.
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